October 20, 2000
Ottawa, Ontario

Today, Prime Minister Jean Chrétien, Ontario Premier Mike Harris and Toronto Mayor Mel Lastman, accompanied by the federal Minister of Transport and Minister responsible for the Greater Toronto Area, David Collenette, announced the Government of Canada's commitment of $500 million to fund the first phase of the Toronto Waterfront Revitalization project in support of Toronto's bid to host the 2008 Olympic and Paralympic games. The province of Ontario and the City of Toronto committed an equal amount.

"Almost a year ago, Premier Harris, Mayor Lastman and I met to show our support for Toronto's bid for the 2008 Olympic and Paralympic Games," said the Prime Minister. "I am here again today because moving forward together on the revitalization of the Toronto Waterfront is such a crucial element of Toronto's plan to stage the greatest games in the history of the Olympic movement."

The federal, provincial and municipal governments are equal partners in this project, and are establishing a working group composed of senior representatives from each government. This group will undertake the work required in the short term, such as coordinating projects being managed by individual governments and establishing a corporation to manage joint projects.

"Today's announcement is the result of many months of coordination among the three governments, the T.O. Bid Committee and other stakeholders," said the Prime Minister. "Now, we can begin to anticipate real changes to the waterfront: more open land, more green space, a cleaner and more welcoming waterfront for all of Toronto."

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PMO Press Office: (613) 957-5555